Rehmann Capital Advisory Group Raises Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Rehmann Capital Advisory Group lifted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 7.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,017 shares of the oil and gas producer’s stock after purchasing an additional 1,272 shares during the period. Rehmann Capital Advisory Group’s holdings in Enterprise Products Partners were worth $526,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. JRM Investment Counsel LLC increased its stake in shares of Enterprise Products Partners by 2.1% during the 4th quarter. JRM Investment Counsel LLC now owns 505,364 shares of the oil and gas producer’s stock worth $13,316,000 after purchasing an additional 10,404 shares in the last quarter. Linscomb & Williams Inc. boosted its position in Enterprise Products Partners by 16.6% during the fourth quarter. Linscomb & Williams Inc. now owns 204,907 shares of the oil and gas producer’s stock worth $5,399,000 after acquiring an additional 29,112 shares during the last quarter. Cerity Partners LLC boosted its position in Enterprise Products Partners by 89.9% during the fourth quarter. Cerity Partners LLC now owns 289,549 shares of the oil and gas producer’s stock worth $7,630,000 after acquiring an additional 137,044 shares during the last quarter. Natixis Advisors L.P. acquired a new stake in Enterprise Products Partners during the fourth quarter worth approximately $314,000. Finally, Sapient Capital LLC acquired a new position in shares of Enterprise Products Partners in the 4th quarter valued at $3,271,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Down 0.1 %

Shares of NYSE EPD traded down $0.04 during mid-day trading on Thursday, reaching $29.12. The company had a trading volume of 678,164 shares, compared to its average volume of 4,371,349. The stock has a market capitalization of $63.24 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 1.36 and a beta of 1.04. Enterprise Products Partners L.P. has a twelve month low of $25.61 and a twelve month high of $29.99. The stock’s 50 day moving average is $28.58 and its 200-day moving average is $28.05. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.68 and a current ratio of 0.93.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. The firm had revenue of $14.76 billion during the quarter, compared to analysts’ expectations of $13.82 billion. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.73%. Enterprise Products Partners’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.64 earnings per share. As a group, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st will be issued a $0.525 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a yield of 7.21%. Enterprise Products Partners’s dividend payout ratio is currently 80.78%.

Analyst Ratings Changes

A number of equities analysts have recently commented on EPD shares. Barclays raised their target price on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, March 26th. Scotiabank boosted their price objective on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a report on Thursday, April 4th. Royal Bank of Canada restated an “outperform” rating and issued a $35.00 target price on shares of Enterprise Products Partners in a research note on Friday, April 5th. JPMorgan Chase & Co. reduced their price objective on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Thursday, May 16th. Finally, Morgan Stanley cut their target price on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Monday, June 10th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $32.77.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.